@Meganlara - because LVMH are one of the most notoriously trademark-lawyer-happy companies in the world, and have sued dozens (if not hundreds) of companies for doing exactly this. The lack of overlap between the symbols will almost certainly not stop them if they get wind of this. As far as they're concerned, the fact that it looks enough like their trademark that everyone here in this comment thread recognised it as a parody of LV is almost certainly going to get their lawyers out. They go after people for (non-commercial) posters featuring parodies (e.g. UPenn), or ads for other companies that include their bags incidentally (e.g. Honda). A company making money off such a design (i.e. Threadless) is either very brave, very confident, or very silly.

The only one worse than LVMH is Burberry Group (and I say this as someone who used to work for a company that had to destroy, by court order, a bunch of merchandise which had different patterns and colours to, but looked vaguely like, the Burberry tartan).

It is definitely a parody. However, big companies have the money to throw their weight around and they won't hesitate to do so if they feel like it, even if the artist isn't doing anything wrong except making a design that is more awesome than theirs. But that just means whoever feels like buying should do so now, just in case! ;-)

Well they can sue first the ones who make outright fake copies of their goods, going after artistic creativity is just plain money grabbing and bullying, lets think of it as art meets pop culture, isn't it these brands started as artistic endeavors in the first place, I don't like commercialism and business taking over everything.